Thursday, November 18, 2010

Stripping the FED

The Media Villagers, through the pen of spokesman George Will (Washington Post station, no linky), have begun jumping on the Hell No Quantitative Easing! bandwagon. With 10% unemployment, zero percent inflation, and a Federal Reserve that possesses the Congressionally-set mandate to ensure Full Employment (which it has heretofore done little to nothing), our new teabagging elite, from Sarah Palin to Eric Cantor to Fred Hyatt's crayon scribble page, instead wants the Fed to cease and desist?

So all of sudden the Fed isn't supposed to do anything about high unemployment? When did this happen? How did this suddenly become acceptable discourse, let alone conventional economic wisdom?

So our institutions are basically not supposed to respond to economic emergencies now?

To make this all the more bizarre, Fred Hyatt's crayon scribble page also includes, next to Will's Hell No QE! column an even more bizarre rant from the Media Village Dean, David Broder (no linky, trust me, it's just a bad column), complaining because the Dems have...added a third leadership member in the House when the loss of the House majority was supposed to result in them only having two. And that this atrocity amounts to the Dems "changing the rules" and not "making the hard choices" in regards to the 2009 stimulus bill and HCR, which Broder apparently hated.

I can't make sense of it. It shoudl be a fun next two years.